dsmWealth: April 6, 2023

BY STEVE DINNEN

It’s a 12 1/2-hour flight from Amman, Jordan, to Chicago, so I wanted something comfortable – maybe with a stretched-out bed? – as I returned from a brief visit to the Middle East. Royal Jordanian Airlines fit that bill, and offered good food, in its business class but wanted $3,257 one way. Then I chanced upon a little routing tweak that slashed an amazing 68% off that fare.

If you dig around for specials, stay flexible and throw in a little luck, you can ride in comfort without breaking the bank on your summer trip to Europe or beyond.

First off, it helps to understand that airline economics make no sense. A few years back I was shopping for a flight to Athens. I started searching well in advance (I use Google Flights), but for days the fare stuck at $4,500 – until it suddenly dropped to $2,200. I jumped on the phone, called the airline and locked in the fare. By the time I rang off, the fare was back to $4,500. A “flash sale,” they call it.

I started my Middle East trip by first flying to Frankfurt. I’d noticed that Singapore Air, perhaps the world’s best airline, was offering business seats for $1,500 from New York JFK. That’s just 60% of what German carrier Lufthansa charges, so I flew to New York and got on a Singapore Air double-decker A-380 jumbo jet (a wonderful plane, in my opinion, with the best service and food you’ll find in the skies).

Plan A involved flying to Cairo and visiting the pyramids before a short hop to Amman to see Jordan’s famous archaeological site at Petra. But for $3,257? No, thanks. Instead I figured out Plan B: Fly to Jordan first, see Petra, spend $120 to fly to Cairo, and then return to the United States. Now the fare was $1,050 – on the same airline, with a stop in Amman.

These aren’t flash sales; they’re just fares that are good until the airlines change their mind. An airline called La Compagnie, which carries only business class passengers, offers a nearly permanent discount on flights from Newark to Paris.

Icelandair is also pretty aggressive with business fares to Europe – like $2,592 for Newark-Paris, versus $3,766 with United. But take note: Icelandair operates narrow-bodied planes with business seats that are basically the same as first-class seats on U.S. carriers’ similar sized planes.

Budget airlines can still take you there and back
BY STEVE DINNEN

A Cadillac Escalade will transport you from Des Moines to Omaha in style. A Mitsubishi Mirage will get the job done, too, though more modestly. The same holds true for air travel, with airlines charging up to 10 times more for the privilege of business and first class over economy.

If lofty fares don’t interest you, try a cheaper option. The Norwegian budget carrier Norse Atlantic Airways will fly you from New York to Rome and back for just $404. United Airlines wants $1,303.
Budget airlines with international destinations don’t serve Des Moines. Icelandair is as close as they come, at Minneapolis-St. Paul International Airport. Ireland’s Aer Lingus flies from Chicago O’Hare. And Norse Atlantic serves only major hubs such as New York, Boston and Los Angeles.

Of course, you have to get from Des Moines to one of those gateways; be prepared to tack on another $400-$500. A June 12-19 trip from New York to London, for example, is $590 with Norse Atlantic. Domestic discount carrier Allegiant Air flies from Des Moines to Newark on select days and will charge $82 on June 12. Return on June 20 on American Airlines (after an overnight in New York) and pay $145, bringing the total bill to $817, plus whatever you pay for that New York hotel. That’s still a lot less than a $1,627 Delta round-trip ticket from Des Moines to London. That adds up to substantial savings for a family of four – as long as you’re willing to ride Mitsubishi style.

Henry Ford and a lesson about cryptocurrency
BY AARON BROWN FOR BLOOMBERG OPINION

Citigroup Inc. has just released a research report making a bull case for cryptocurrencies – an asset class that hasn’t had a lot to cheer about the last two years. The thesis is that blockchain and related technologies will grow to having a billion users and trillions of dollars in value over the next six to eight years. What’s missing is the implications for investors, which I’ll try to outline.

The 162-page report starts with the example of someone in 1900 predicting the eventual massive economic and cultural change caused by the automobile. It was not practical to invest directly. Most automobile startups at the time failed. Ford was not founded until 1903 and didn’t go public until 1956. Shorting buggy-whip companies sounds clever but it wasn’t any more practical than investing in car companies. Plus, buggy-whip companies had little trouble shifting to making similar consumer goods.

What would have made sense is realizing cars need gasoline, highways and gas stations, and would create demand for motels, drive-ins, suburban homes, rubber, glass, concrete and many other things. You didn’t have to bet on one car company or technology. Today there’s small reason to believe massive growth in the crypto-technology sector will increase the value of most existing crypto assets. A more promising investment approach is to think about what general technologies will be needed if crypto takes off.

Read a summary about the four key technologies that are in the Citigroup report: decentralized digital identities, zero-knowledge proofs, oracles and secure bridges.

For some couples, a windfall can topple their marriage

Wall Street Journal: A 10-year study of married lottery winners in Sweden recently revealed a surprise: In many cases, the marriage’s long-term success depended on who held the winning ticket. Male winners experienced lower divorce rates and higher fertility, while female winners saw higher divorce rates, especially among women who earned far less than their husbands. Additional new research indicates that big financial swings – up or down – can rock even long-term relationships. Wealthier couples generally have more stable marriages, but trouble can arise among couples who receive a sudden windfall and don’t discuss their plans to spend or save it. "I see the same patterns with couples who make $100,000 or $1 million a year, if the communication is lacking," Adam Kol, a financial therapist in Florida, said. "More than once I’ve referenced Biggie Smalls to a client: 'You know, "More money, more problems."'"

If good ol’ Gus or Ms. Whiskers gets injured or sick, how will you cover their recovery? Here’s a list of the best pet insurance providers. (U.S. News & World Report)
With shrinking wallets, how many bills, credit cards and IDs should you carry? Financial advisers weigh in. (Wall Street Journal)
A man waited three years to buy an $85,000 Rivian SUV – and then, days later, paid $2,000 to have it towed after it went kaput. (Business Insider)

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